Analysis of gold price trend on Wednesday
アップデート済
In the Asian market on Wednesday, spot gold fluctuated in a narrow range and is currently trading around 2335. Gold prices fluctuated slightly down 0.11% on Tuesday. Strong U.S. job vacancy data put pressure on gold prices, but Fed Chairman Powell's speech was dovish, and the dollar and U.S. bond yields fell, providing support for gold prices. Of course, international gold showed an overall volatile trend, and most investors began to wait for U.S. employment data later this week to provide more clues to interest rate cuts.
The benchmark 10-year U.S. Treasury yield hit a one-month high on Monday and remained high on Tuesday, resulting in a decline in the attractiveness of non-yielding international gold prices. Market analysis The rise was caused by safe-haven demand driven by geopolitical and economic uncertainties and continued purchases by central banks (a critical demand category). Because July 4 is the U.S. Independence Day holiday, the market will be closed early on this trading day, which may slightly limit trading space, and investors need to pay attention.
The minutes of the Federal Reserve meeting will be released on this trading day, and investors need to pay close attention to them. In addition, the U.S. ADP employment data for June, the U.S. ISM non-manufacturing PMI for June and the U.S. factory orders monthly rate for May will be released on this trading day, and investors need to pay attention to them. In addition, it is necessary to pay attention to the speeches of Federal Reserve officials and news related to the geopolitical situation.
Technical side
Gold bulls and bears are in a fierce battle, and both bulls and bears have opportunities. Therefore, for intraday operations, on the one hand, pay attention to the continuation of the rectangular oscillation, and on the other hand, pay attention to the cycle of time. If gold does not perform strongly at 2337~2340, continue to look at the retracement and downward test of 2318. If it continues to fall and still gets support at 2318, then there is still a chance for a rebound test at 2338-39 in the European session. If the rectangular oscillation range is not broken, no matter it is falling or rising, do not chase it; mainly sell high and buy low!
Asian trading strategy:
Short-term gold 2319-2321 long, stop loss 2312, target 2335-2345;
Short-term gold 2337-2339 short, stop loss 2348, target 2320-2310;
Note: The above strategy was updated on July 3. This strategy is an Asian market strategy. Please pay attention to the validity period of the strategy release.
The benchmark 10-year U.S. Treasury yield hit a one-month high on Monday and remained high on Tuesday, resulting in a decline in the attractiveness of non-yielding international gold prices. Market analysis The rise was caused by safe-haven demand driven by geopolitical and economic uncertainties and continued purchases by central banks (a critical demand category). Because July 4 is the U.S. Independence Day holiday, the market will be closed early on this trading day, which may slightly limit trading space, and investors need to pay attention.
The minutes of the Federal Reserve meeting will be released on this trading day, and investors need to pay close attention to them. In addition, the U.S. ADP employment data for June, the U.S. ISM non-manufacturing PMI for June and the U.S. factory orders monthly rate for May will be released on this trading day, and investors need to pay attention to them. In addition, it is necessary to pay attention to the speeches of Federal Reserve officials and news related to the geopolitical situation.
Technical side
Gold bulls and bears are in a fierce battle, and both bulls and bears have opportunities. Therefore, for intraday operations, on the one hand, pay attention to the continuation of the rectangular oscillation, and on the other hand, pay attention to the cycle of time. If gold does not perform strongly at 2337~2340, continue to look at the retracement and downward test of 2318. If it continues to fall and still gets support at 2318, then there is still a chance for a rebound test at 2338-39 in the European session. If the rectangular oscillation range is not broken, no matter it is falling or rising, do not chase it; mainly sell high and buy low!
Asian trading strategy:
Short-term gold 2319-2321 long, stop loss 2312, target 2335-2345;
Short-term gold 2337-2339 short, stop loss 2348, target 2320-2310;
Note: The above strategy was updated on July 3. This strategy is an Asian market strategy. Please pay attention to the validity period of the strategy release.
トレード稼働中
Gold: Breaking through key resistance levels, looking forward to further reboundOn Wednesday, spot gold ushered in a round of rapid rise in the European session, and gold bulls and bears broke through after a fierce battle at the 2340 mark.
From the perspective of technical analysis, if the gold price can continue to stabilize above 2340, it will be expected to first test the resistance level of 2365, and may even challenge the higher target of 2400.00. However, the market is always full of uncertainty. If the gold bulls fail to hold the 2340 mark, the bearish trend may continue.
トレード稼働中
After gold breaks through resistance, going long means profit. Welcome to check my work. トレード稼働中
トレード稼働中
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